CleverAdviser
– ESG Leads Amid Market Decline: Smallest Loss at -0.73%
– Microsoft & Ebb Carbon Unite for Oceanic Carbon Capture
– Morgan Stanley Invests in Carbon Removal with Climeworks
– DHL Expands SAF Usage, IAG Cargo Partnership Grows
Market Recap
All strategies fell last week, with the ESG leaders approach falling by the least (-0.73%).
(1 week performance from 21/10/24 to 25/10/24)
Microsoft Signs Ocean-Based Carbon Removal Deal with Ebb Carbon
Microsoft has announced a new agreement for the removal of up to 350,000 tonnes of CO2 from the atmosphere over ten years with marine carbon dioxide removal (mCDR) provider Ebb Carbon.
Founded in 2021 by former Tesla, SolarCity, and Google X executives, Ebb Carbon provides a solution aimed at enhancing the natural ability of the ocean to store CO2, while improving ocean health by reducing ocean acidification.
Morgan Stanley Signs Multi-Year Carbon Removal Deal with Climeworks
Zurich-based Direct Air Capture (DAC) carbon removal company Climeworks has announced that it has signed an agreement with Morgan Stanley to permanently remove 40,000 tons of CO2 through to 2037.
DAC technology extracts CO2 directly from the atmosphere for use as a raw material or permanent removal when combined with storage.
DHL, IAG Cargo Sign Deal to Use 60 Million Litres of SAF to Ship Air Freight
Logistics giant DHL and International Airlines Group’s (IAG) cargo handling business IAG Cargo announced today an expanded agreement, with IAG Cargo to use an additional 60 million liters of sustainable aviation fuel on behalf of DHL Express and DHL Global Forwarding to cover 2024 and 2025 emissions.
The companies said that the new deal makes the partnership the largest SAF agreement between an airline and a customer to date, and will result in a reduction of greenhouse gas emissions of approximately 165,000 metric tons of CO2e over the next year and a half.
Scaling the use of sustainable aviation fuels forms a significant part of DHL’s Sustainability Roadmap.
PwC Achieves 95% Renewable Electricity Usage in 2024, New Report Reveals
PwC (Price Waterhouse Cooper) has made significant strides in its sustainability initiatives, achieving 95% renewable electricity usage in 2024 and a 71% reduction in Scope 1 and 2 greenhouse gas emissions from a FY19 baseline. The firm is collaborating with public and private sectors, participating in forums like Davos, Climate Week, and COP28 to enable progress toward societal sustainability.
Sources.
Anthony Walters – Head of ESG at Clever Adviser Technology Ltd (Clever)
Market recap Data sourced from FE FundInfo & Koyfin (quoted in Pounds Sterling).
Rio Tinto Acquires Arcadium Lithium for $6.7 Billion to Target Energy Transition Metals by ESG Today, 09/10/24
Google Signs First Nuclear Energy Deal to Address Growing AI Carbon Footprint, by ESG Today, 15/10/24
Greece Aims for Renewables to Account for 82% of Electricity Generation by 2030, by ESG News, 16/10/24
Canada to Introduce Mandatory Climate Disclosure Requirements for Large Companies, by ESG Today, 10/10/24
Risk Warning: These are Anthony’s views at the time of writing and should not be construed as investment advice. The opinions expressed are correct at time of writing and may be subject to change. Capital is at risk. The value and income from investments can go down as well as up and are not guaranteed. An investor may get back significantly less than they invest. Past performance is not a reliable indicator of current or future performance and should not be the sole factor considered when selecting funds.
